St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-04
On the Chicago Board Of Trade There Was
Less Activity in the Specula-
tive Pits.
Generally Free Covering by the Shorts"
Caused Some Excitement at the
Opening.
The Feeling in Wheat Circles vas
Decidedly Unsettled and
Nervous.
transactions in the Financial circles
of Wall STRAIGHTFORWARD
Quotations.
apecial TO the Glope.

CHICAGO. March 3-There was very heavy
buying of wheat to-day by strong parties ana
the news was of q decidedly bullish tenor,no
WIthstanding which the market, gagged by
the closing range of the two days, shows a
loss instead Of a gain. The great strength
carly was said TO be due to the covering or
Pardrige's short wheat yesterday. He said
he had 100000 profit in his line OF short
wheat, and that would indicate that MS me
WAS something enormous. 1t looked to-day
10 the crowd as il Pardrge had four or five
brokers buying for him al the opening, and
pretty nearly all the bull houses were realiZ-
ing on some OF their wheat flelu,
Lindley & Co. sold more than they
have on any day for weeks.
Irwin. Green & Co. and other clique houses
were also sellers. There seemed really to be
some anxiety on the part of the bull houses
TO prevent an advance, and this attitude OF
theirs, more than anything else, increased
the bullishness. The cearances were not
large being not much over SltO,UUO Tor the
Atlantic ports and the new export business
was not reported as large, but II it mad been
the market might have become uncontroHa-
bic. The gossip about the provision pit Is,
that there is still some big and wicked snort
ont, who, besides having plenty or money,
is very obstinate. For his benefit, it is be-
Heved the price of May pork was run up
yesterday to $l9.55. The talk is that this
short is Sid Kent. and, further than this the
talk is that
HE WILL STAY OUT.
Of course the price may run up, but then
Kent has money. Be- standing out he has
leeway of six weeks. That may offer him
some aid. 1t is likely that pretty close
watch has been kept on the dlterent houses,
and that the inspection Office knows pretty
nearly how much pork was In store mere
March l. But it is also true that some SNUG
Cling will be attempted. If there is great
speculative share left and especially if he
owns a packing house, there will be great
temptation to get little March made pork
in as regular. 1t is easy enough to
brand pork made March 2 Feb. 2S. Packers
are all honorable men. Nobody is afraid
that there will be collapse in price or ithat
the engineers of the corner will go broke.
On the other hand this exhibition of diScon-
tent at the hardShipS of the recent very vio-
lent fluctuations will undoubtedly have the
effect of modifying the hardships somewhat.
1t will probably result in holding the market
down at near $40 or perhaps SIS. The ad-
vance from SIS has not, as every body knows.
been FASTENED at all by the clique, but the
clique could have eased up the pressure by
letting out Il little pork. Perhaps that will be
done hereafter when the squeeze becomes IN
endurable.
THE ROUTINE REPORT.
CHICAGO, March 3.-There was less activity
in all the speculative pits to-day. In wheat
the feeling was unsettled and nervous. The
market was excited at the opening, caused
by free covering by shorts and infiu-
enced somewhat by the stronger tone
of cable advices. The starting price
for May was 1899, or 1ac higher than
last night, and advanced quickly to soc. The
offerings grew very large ut the outside figure,
under which the price finally broke off to 1874
@1S1sc, and closed for the day at IS1s@19c.
The exports from three Atlantic ports were
10000 bushels. The receipts at eleven points
were ~, 900 bushels Corn ruled quiet and
averaged higher, but closed a shade lower.
The trading was entirely local and no new
features developed. Oats were very quiet
and closed shade lower The mess pork
market has been brought to standstill.
There was practically no trading to-day.
few transactions for May delivery were made
at S1S.950l9, but prices were nearly nominal.
In lard the trading became very active to-
ward the close of the session and prices closed
171%@l20c per 100 lbs higher than yesterday.
Short ribs were 25c per 100 lbs higher than at
the close of yesterday.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. =, March, T3Ac, closing at 1885
@7315c; May. 1890, closing ut 7S7s@79c; June,
S05sc, closing at soc; July, S15sc, closing at
sos4@sO5ge: Corn-No; 2. March, a4sc, clos
ing ut 1890; May, 39ssc, closing at SOC;
June 4O3sc, closing at 395s@4Oc: July. 411ac,
closing at 4l1sc. Oats-No. 2, March, 2334c,
closing at 23$4c; May, 2s5ac, closing at
2S2Sc; June, 29c, closing at 2S54c Mess
pork, per barrel, March, $3.50, closing at
$3.50; May, $40, closing at $40; June,
S19.05 closing at $19.O5. Lard per 100 pounds
March, S7.U2 %. closing at $40: May, S7.12L,
closing at S7.3O; June, ST.1T1l, closing at
$T.321a. Short ribs per 100 pounds-March.
$3.50, closing at $T.S5: May, s. 10, closing
at $7.95; June, $40, closing at SIS.
Cash quotations were as follows: Flour quiet
and unchanged. Wheat--No. 2 spring, 1917
@75ac; No. spring, T1@121ac; No. 2 red, 7S@
T91ac. Corn-No.2, 335s @3554c. Oats-No.2,23s4
@24c. Rye-No. 2, sac. Burley-No. 2,4S@5Oc.
Flax seed-No. i, Sl.09. Prime timothy seed,
Sl.SO. Mess pork. per Dbl, SIS. 7O@1s.SO. Lard,
per 100 lbs, S7.20. Short ribs, sides. loose,
S1.S21a@7.S5 dry sailed shoulders boxed, seq
CPS; short clear sides, boxed, SS9S.05. Whisky,
dIstillers' finished goods, per gal, $l.1S
Sugars, cut loaf, 64063sc: granulated, &c;
standard a. 51a@55gc. Receipts-Flour,
1000 bbls; wheat, $4,000 blu: corn, 141 ,OOc
blu: oats, $4,000 blu; rye. 1000 bu; barley
$4,000 bu. Shipments-Fiour, $4,000 bbls;
wheat g., 900 blu; corn, $1,000 bu: oats. III 900
bu: rye, LOCO blu: barley, 200 blu. On the
produce exchange to-day the butter market
ruled firm; creamery, l6@31c per d dairy,
12g22c per ID. Eggs, 141aGD15c per doz.